The Maharashtra Real Estate Regulatory Authority (MahaRERA) has taken decisive action against 370 projects, slapping fines totaling Rs 33 lakh and issuing show-cause notices for their failure to display MahaRERA registration numbers and QR codes.
Among these projects, 173 are located in Mumbai, followed by 162 in Pune and 35 in Nagpur.
MahaRERA officials revealed that the developers behind these projects received fines ranging from Rs 10,000 to Rs 50,000 following show-cause notices and hearings conducted by MahaRERA. To date, developers have already paid Rs 22 lakh to MahaRERA.
The regulatory authority had mandated that developers include QR codes in their advertisements from August 1 of this year. Failure to comply with this requirement could result in fines of up to Rs 50,000.
MahaRERA officials have urged the public to exercise caution when considering investments in projects that lack project registration numbers or QR codes on their advertisements. Developers are encouraged to furnish prospective buyers with comprehensive information to ensure transparency and compliance.
